Just taking the pulse of adoption of digital assets. Google search is always interesting...
Here is Bitcoin (treading water):
Here is ETH (decently strong):
DeFi has remained steady but isn't growing in adoption (by this metric)
NFT's are the new breakaway for network adoption (but split into thousands of projects, making it hard to know where to invest):
And Web 3.0 has suddenly becomes the all-encompassing term for the digital asset space and its applications layer... this trend has just started.
The true consumer applications layer (Web 3.0 and NFT's) are getting the most new interest and is what is really going to scale to the billions but split over millions of projects and areas (music, art, community, real estate, luxury goods, metaverse, etc).
ETH seems to be capturing the L1 element of the applications layer (sort of like the social token of the applications ecosystem).
BTC as the base layer is less likely to see the rise in interest in this point in its adoption curve - more steady increases in adoption over time.
DeFi, considering the TAM of its application, is likely to see much more interest over time. We have only seen the first mini-wave. Wait until TradFi goes on blockchain for some real magic applications.
Social tokens, when they become mainstream, will likely be in the top 2 or 3
For those of you who care about macro too, I think we are getting really really close to a buy bonds, buy tech, buy crypto set up.
More to come... watching closely but likely over next 2 weeks.
Meanwhile, patience....
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A bit of shade being thrown about the Banana Zone. Let me clarify...
Macro Summer and Fall are driven by the global liquidity cycle that exhibits clear cyclicality since 2008.
Why since 2008? Well, back then the worlds all reset their interest payments to zero and they debt maturity to 3 to 4 years, creating a perfect macro cycle.
You can see the perfect cyclicality in ISM (the best guide to the business cycle)
Well, the genesis of ALL my thinking comes from Global Macro Investor, where @BittelJulien and I do our deep thinking each month (120 pages+).
I'm immensely proud of GMI and Ive been writing it for 20 years.... 1/
It is an expensive research service and is subscribed to by many of the world's largest hedge funds (usually the principals), SWF's, Asset managers, RIA's, Family Offices and HNW investors.
It also has the best proven and recorded track record of any research service...ever.
A 20-year track record of performance is not something that any other service provides.
My track record has many 100% plus years (thank you crypto!), many decent years, some so so and some bad ones. But it is all timestamped and transparent.
What is Macro/Crypto Summer and why does it matter?
Well, macro summer has started, its the part of The Everything Code cycle where the ISM picks up (GDP growth).... 1/
And that is driven by liquidity, which bottomed at the end of 2022... macro summer and fall are all about liquidity rising and is a core part of The Everything Code thesis...
And that, in turn, lifts tech stocks... they LOVE macro summer and fall...